- Exro Technologies (EXRO) has announced an upsized bought-deal public offering of units for gross proceeds of $17,500,800
- A syndicate of underwriters have agreed to purchase 10,938,000 units at a price of $1.60 per unit
- If the over-allotment option is exercised in full, aggregate gross proceeds of the offering will be $20,125,920
- The offering is scheduled to close on or about February 4, 2022
- Exro Technologies is a clean technology company
- Exro Technologies Inc. (EXRO) opened trading at C$1.93 per share
Exro Technologies (EXRO) has announced an upsized bought-deal public offering of units for aggregate gross proceeds of $17,500,800.
A group of underwriters led by Eight Capital and Raymond James Ltd., as lead underwriters and joint bookrunners have agreed to purchase, on a bought deal basis, 10,938,000 units at a price of $1.60 per unit. Each unit consists of one common share and one half of one common share purchase warrant. Each warrant is exercisable into one common share at an exercise price of $2.00 for a period of 36 months from the closing of the offering.
In addition, Exro has granted the underwriters an over-allotment to purchase up to an additional 1,640,700 units. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the offering will be $20,125,920.
The offering is scheduled to close on or about February 4, 2022.
Net proceeds will be used for working capital and general corporate purposes.
Exro Technologies is a clean technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification.
Exro Technologies Inc. (EXRO) opened trading at C$1.93 per share.